I don't disagree with you on that. But until they are, we are on the hook for their obligations. Unfortunately, that "we" is congress, who has the oversight obligations (which they have mostly neglected). Hence the action here. The only other option (at least until they are no longer part of the United States) is bankruptcy, which really cannot be done without destroying the house of cards the economy is in.
I don't like it. But I also know that they are not yet a foreign country.